Hello Traders Welcome back to another profit day
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Here is the full analysis for this pair, Let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you...
AUDJPY has reached an important supply level on a higher timeframe and has printed a bearish Engulfing on the 1H TF. A short attempt might prove to be fruitful here with a stop-loss of 83.550
Target 1: 82.900
Target 2: 82.400
After a big impulsive move to resistance we can start looking for short opportunities for the week ahead, I am currently marking up the key levels to look out for
I will be looking on a lower timeframe to enter a short position to the most recent support area
I'm looking to enter for a sell on a bearish push from level 79.500 towards Major Level 78.000.
Price is expected to fill in the imbalance created previously (Highlighted Yellow)
I would wait for the JPY banks to open tomorrow before entering as it is a bank holiday today.
The yellow and red lines mean: I think prices can return in these areas.
Green lines mean: I think the price can reach these areas. They are therefore known as transaction targets.
If you want to use this deal, please risk only one percent of your account balance.
According to the analysis, AUDJPY is in a correction phase and will likely visit 80.50 before continuation to 84.00.
SELL idea towards 80.50 .
Therefore, bearish bias in the beginning of the week, but once you see price rejecting 80.50 area, it's time to BUY!!
I'll post what it should look like once price rejects 80.50 area and resume the trend...